France

[Funding alert] Paris-based foodtech Standing Ovation Secures €3 Million in Funding

Jan 10, 2024 | By Startup Rise EU

Paris-based foodtech Standing Ovation secures €3 million in funding by the State for its “CASPEX” project. This funding was obtained through the “Agrifood Resilience and Capacity” call for projects of the France 2030 Investment Plan, which is run by Bpifrance. In addition, Bpifrance has provided €1 million in funding for the project in the form of the Green Invest EU Investment Loan.

Paris-based foodtech Standing Ovation secures €3 million in funding by the State for its “CASPEX” project. This funding was obtained through the “Agrifood Resilience and Capacity” call for projects of the France 2030 Investment Plan, which is run by Bpifrance. In addition, Bpifrance has provided €1 million in funding for the project in the form of the Green Invest EU Investment Loan.

Standing Ovation, the winner of the FrenchTech 2030 competitors, puts the circular economy at the centre of its industrial growth and seeks to assist agri-food producers on their journey towards more sustainable production.

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By creating alternative proteins made by precise fermentation, the company hopes to play a significant role in the food transition and address the issues around food sovereignty. The "CASPEX" project aims to develop a line for the purification of proteins (caseins) acquired through precision fermentation, enabling the first industrial manufacturing of dairy product ingredients.

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This crucial step will allow the industrialization of the procedure required for the sale of these highly useful and nutritious substances.

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Romain Chayot, President and co-founder of Standing Ovation, said: “Standing Ovation’s innovative approach allows us to contribute to the food transition while significantly reducing the environmental impact of the dairy ingredient industry. The strong support from Bpifrance helps us lead the industrial deployment of the unique process developed by Standing Ovation, an important step before the upcoming commercialization of our ingredients. This funding also marks the commitment of public authorities to prepare the food of the future and ensure food sovereignty.”

A crucial phase in Standing Ovation's fermentative casein production process is purification. By increasing process productivity and optimising the use of upstream production tools, this purification module will cut down on equipment and team downtime. Production will increase as a result, and associated expenses will decrease.

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About Standing Ovation

Standing Ovation was established in 2020 and has created a patented technology that enables precise fermentation to produce caseins without using animal products. The primary protein found in milk is casein, and producing it through fermentation presents a significant obstacle for the development of alternate protein sources.

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